US CPI Inflation Rises 0.2% in April to 2.3%

April's Consumer Price Index (CPI) data shows a modest increase in inflation, with the headline CPI rising 0.2% month-over-month and the year-over-year inflation rate easing slightly to 2.3%, marking a four-year low. Core inflation measures, which exclude volatile food and energy prices, remained steady with the core CPI at 2.8% year-over-year and the median CPI rising 0.3% in April, according to the Federal Reserve Bank of Cleveland. These readings suggest inflation is cooling but still above the Federal Reserve's target rate of 2%. The data also reflects early effects of trade tensions, as some importers accelerated purchases ahead of tariff deadlines imposed in mid-April, contributing to price increases. Meanwhile, the NFIB Small Business Index showed a slight decline but exceeded expectations, with uncertainty among small business owners remaining elevated. Overall, the inflation figures provide a nuanced picture of the economy amid ongoing trade policy developments and market adjustments.